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Russia-Ukraine roundup: Another day of surging oil prices

Russia-Ukraine roundup: Another day of surging oil prices

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Oil prices surged again Wednesday, with the CME ultra low sulfur diesel contract settling at its highest level since the end of July 2008. Markets are continuing to react to a scenario that wasn’t on many forecasts of what might happen in the event of a Russian invasion of Ukraine: a self-selected embargo in which sanctions by the West on Russian imports to key countries so far are proving unnecessary.

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